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Euro losing steam vs. pound, trades sub-0.8800 level

  • EUR/GBP recovery is halted near the 0.8800 resistance.
  • The level to beat for bears is the 0.8750 support.

 

EUR/GBP four-hour chart 

 

EUR/GBP is trading within familiar ranges as the market is trading below the 0.8800 level and the 200 SMA on the four-hour chart. EUR/GBP is currently capped by the 0.8800/0.8850 resistance zone as the overall trend remain down. However, in order to embolden the bear case, sellers should be breaking below the 0.8750 support level en route towards the 0.8700 and 0.8650 level. 

 

 

Resistances: 0.8800, 0.8850, 0.8920

Support: 0.8750, 0.8700, 0.8650

 

Additional key levels

 

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